Our favorite evil clown is making his sadistic return. Warner Bros is set to adapt the best-selling Stephen King novel "It" and they've hired "Jane Eyre" filmmaker Cary Fukunaga to helm the project over two films.

According to The Hollywood Reporter, Fukunaga will direct and co-write the screenplay with Chase Palmer, who previously turned "Dune" by Frank Herbert into a script for Paramount. Roy Lee and Dan Lin are on board to produce along with Seth Grahame-Smith and David Katzenberg from KatzSmith Production.

The book, published in 1986, was previously adapted in 1990 as a TV miniseries for ABC starring John Ritter, Harry Anderson, Tim Reid, Annette O'Toole, Richard Thomas and Tim Curry. The late Jonathan Brandis and "Robot Chicken"'s Seth Green were also part of the cast playing the younger versions Thomas' and Anderson's characters.

The story centers on the Losers Club, a group of neighborhood kids who encounter a demon called It in 1960. It targets children, killing them by taking the form of a vicious clown called Pennywise. They see floating balloons pop midair and blood run out of the faucet in lieu of water. Frightening stuff for a child! Thirty years later, these same kids—now adults, as scared as ever—are called back to battle the creature again, even though they have no recollection of the first time they fought It.

We're just hoping the red-headed monster won't turn into an awful (special effects wise) giant spider at the end again. Don't let us down, Fukunaga!

What do you think of this new adaptation of "It"? Were you a fan of the miniseries? Let us know in the comments and on Twitter!